Interrent Real Estate Investment Trust (TSE:IIP.UN – Free Report) had its target price decreased by Raymond James from C$16.25 to C$15.75 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. Raymond James currently has a strong-buy rating on the real estate investment trust’s stock.
Several other equities research analysts have also issued reports on the stock. Laurentian set a C$15.00 target price on shares of Interrent Real Estate Investment Trust and gave the stock a buy rating in a report on Monday, January 22nd. TD Securities lowered their target price on shares of Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Wednesday. Cormark raised their price target on shares of Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research note on Friday, March 15th. Royal Bank of Canada raised their price target on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an outperform rating in a research note on Friday, March 1st. Finally, BMO Capital Markets raised their price target on shares of Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of C$15.05.
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Interrent Real Estate Investment Trust Price Performance
Interrent Real Estate Investment Trust Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.0315 per share. This represents a $0.38 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Monday, April 29th. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is 59.38%.
About Interrent Real Estate Investment Trust
InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties. InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.
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